IDIS 330: exam 1 (ch 1-4 + note packet)

Opening Phrases

"We may be able to..." "We might be able to..." "It's possible we can..."

Steps of the Decision Making Process

- Satisfaction - Acknowledgement - Decision - Investigation - Selection

Research Questions

- ask first - easy to answer - gathers info about buyers and their businesses - earns you the right to ask more difficult questions

Commitment

- beginning of relationship/implementation of commitment - ask for the business and end all statements with questions to confirm buyer cares - person asking all questions is in control

Having a Clear Message

- begins with thinking through the process of what you are going to say and not say + what you want the client to hear - what we say and what the client hears are two different things

Accomplishing the Pre-Work

- brief search on the internet or local newspaper archives - call other sales representatives - knowing about industry trends - trade journals - asking current clients - talking to competitors - talking to non-direct vendors

Key Drivers in Understanding Clients Responses

- buy point of the individual in client's business - client personality - financial application of product/service - product/service itself

Closed-ended questions

- can be answered yes or no or from the answers included within question (i.e multiple choice) - person asking questions usually controls conversation

Benefit Statement

- determine what the client whats to hear - craft a statement that will pique the client's curiosity to hear what we have to say

Magnifying Questions

- encourage clients to elaborate on problems or solutions - giving much more consideration to an issue than previously

Open-ended questions

- encourage someone to talk and be actively involved - get information

Introductory Statement

- establish credibility of a sales professional and his/her company - avoid the word "you"

Attention

- get buyer focused on YOU - always tell buyers why they should listen (pique their interest)

Sales Objective

- goal for a given call that moves us closer to a decision with the client

Words to Avoid: Appointment

- has negative connotation, ask directly Try: - meet briefly - may I come buy

Identifying Questions

- identify client's problems are potential problem

Closed-ended words

- is - are - can - will - was - were - have - had - has - could - would - should

Evaluative Listening

- listening but not hearing

Discovery

- looking for problems so we can provide solutions - encourage prospects to talk about problems they've had/anticipate having - emotionally involved into conversations (buyer cares about outcome)

Knowing the Goal

- planning is critical - what we are working on with our clients might make us plan different

Understanding the Response

- preparing to understand means listening beyond the words - need to understand not only the business environment but the individual's response in reference to the company as well

Solution

- provides solution to problems found in Discovery Step - after telling anyone anything, always tell them why they care

Client Needs Assessment (CNA)

- sales interview is conversational - research questions = credibility - listening = genuine concern - for each problem, a magnifying question should be asked - NO SELLING - continue asking questions that cause the client to discover the solution for him or herself

Overview of First Five Minutes of Initial Meeting

- sales professional should be able to create enough interest on the part of the potential client within first 5 min to be allowed to continue meeting - pleasantries - opening question - transition to intro statement - intro statement - benefit statement - transition to discovery step

Basic Buying Motives

- situational 1. hope of gain 2. fear of loss (stronger of two)

Active Listening

- total concentration on what is being said with the intent to fully understand a situation - empathy - read b/w lines GOOD SALES PEOPLE ARE ACTIVE LISTENERS

Open-ended words/Journalism questions

- who - what - when - where - why - how - tell me about - explain - describe - specifically - elaborate - help me with this - I'm curious most informational: what, why, how

Steps of the Selling Process

1. Attention 2. Discovery 3. Solution 4. Commitment

Examples of Benefit Statements

1. We may be able to 2. We might be able to 3. It's possible we can 4. We may be able to KEEP CONCISE

Beginning a Sales Call

1. What you are selling and what the prospective client is buying are two different things. 2. Begin introductory conversations with clients and prospective clients by talking in terms of THEIR interests, not yours. 3. Don't promise too much too quickly

Two things have to be perceived by the buyer before they are comfortable enough to share:

1. have a certain amount of trust in the sales professional 2. have a sense of genuine interest and perception that a solution can be found

__________ and _________ questions should be well thought out and crafted prior to going into a sales interview. __________ questions on the other hand, are more spontaneous.

1. research 2. identifying 3. magnifying

Question Model

1. research questions 2. identifying questions 3. problems 4. magnifying questions

Steps to Crafting a Benefit Statement

1. select opening phrase 2. add a verb 3. reference possible problem

Crafting Intro Statement

1. type of business 2. geographic areas of operation 3. areas of specialization 4. clients/industries you work with 5. any special recognition that you or your company have received 6. stats - numbers add credability

Buyers First Business Questions

1. what is this all about 2. how to get rid of this

Things to Remember

1. what the sales person sells (product and services) and what the buyer buys are two different things 2. ALWAYS begin conversation with purpose of call with words that the buyer wants to hear 3. avoid promising too much too quickly (will look like everyone else and may not be able to deliver)

Words to Avoid: Hint Statements

Try: - "I'd like to come by..." - "I need to..." - "I want to..."

Words to Avoid: Hope

Try: - "confident we can..."

Words to Avoid: Interested

Try: - at least worth knowing - at least worth hearing - at least worth exploring

Words to Avoid: "I'll be honest with you"

Try: - candid - frank

Words to Avoid: Deal

Try: - offer - proposal - proposed solution - solution

Investigation

actively looking at alternatives with the intent to purchase or to make a change

Selection

best alternative is selected and a decision is made

Capability to Provide a Solution

build and increase credibility by asking the right questions

Satisfaction

completely satisfied with a current supplier or situation

Acknowledgement

not open to buy/purchase, willing to look

In the sales world...

planning is something that should occupy more of the sales professional's time than the actual process of selling

Marginal Listening

pretend listening, having little to no interest in what is being said

Decision

reached a point where something has to be done; actively looking to make a change

Choice of Words (COW)

stay away from: - interested -appointment - hint phrases (i.e I'd like to, I want to, I need to, I was hoping to) - deal - honest

Identifying Problems

will make more efficient use of time with client and establish credibility problems include: - untimely deliveries - back orders - billing problems - too many vendors - slow response time - unqualified service personnel - excessive investment in inventory - current vendor's lack of knowledge - poor communication w/ current vendor - downtime